قالب وردپرس درنا توس
Home / Business / Utz, a century-old regional chip maker, has acquired a major tortilla chip maker

Utz, a century-old regional chip maker, has acquired a major tortilla chip maker



Utz Brands is a 99-year-old manufacturer of potato chips and pretzels, and is popular among consumers in the Mid-Atlantic region. The company acquired On The Border for $480 million, adding tortillas and salsa to its business.

The Utz brand logo is on the banner.
On Monday, August 31, 2020, the Utz Brands banner listed on the New York Stock Exchange was hung on the exterior of the New York building. (AP Photo/Mark Lennihan)

Utz Brands is a 99-year-old manufacturer of potato chips and pretzels, and is popular among consumers in the Mid-Atlantic region. The company acquired On The Border for $480 million, adding tortillas and salsa to its business.

On The Border is one of the largest manufacturers of tortillas, salsas cheese, queso cheese and other dips in the United States.

Utz acquired Truco Enterprises, the parent company of On the Border, from Insignia Capital Group. The acquisition is expected to be completed in December.

Tortillas are the second largest savoury snack category after potato chips, with annual retail sales of US$6.2 billion.The savory snack category has an annual revenue of 28 billion U.S. dollars

Americans also spend $1.5 billion on Salsa every year. In the past year, sales of American tortillas have increased by 10%.

After the acquisition of On the Border, Utz’s annual retail sales will reach 1.3 billion US dollars.

Utz was founded in Hanover, Pennsylvania in 1921 as a small family business, selling fresh fries to grocery stores mainly in the Baltimore area.

Utz now has 14 production facilities in Pennsylvania, Alabama, Arizona, Illinois, Indiana, Louisiana, Washington and Massachusetts.

Like WTOP on Facebook, follow @WTOP on Twitter to participate in discussions about this article and other content.

By registering here, breaking news and daily headlines can be sent to your email inbox.

©2020 WTOP. all rights reserved. This website is not suitable for users located in the European Economic Area.




Source link